When a new medical report extols the health advantages of grapefruit,assuming an upward-sloping supply curve,producer surplus in the grapefruit market:
A)will increase.
B)will decrease.
C)will remain the same.
D)may change,but we can't tell how.

Question

Quizplus · Accepted Answer

When a new medical report extols the health advantages of grapefruit, there may be an increase in demand for grapefruit, causing the price to increase. As a result, the producer surplus would increase since they can now sell their grapefruits at a higher price.

When a New Medical Report Extols the Health Advantages of Grapefruit,assuming